|
Property & Casualty Guide
A major fire at your restaurant or even a minor fall by a customer can have a devastating impact on your business. How can you protect yourself from big financial losses? You can start with two kinds of insurance that are often packaged together: property insurance and casualty (also referred to as liability) insurance.
Fire. Storm damage. Vandalism. These are just a few examples of incidents that can damage your property. Your property and equipment should be properly maintained and adequately insured to reduce your risks for loss and damage.
Property insurance covers your physical assets: your building, equipment, furnishings, fixtures, inventory, computers, valuable papers, records and more. But property insurance can also provide income if your business is forced to suspend operations after a covered loss.
What does casualty insurance cover?
Casualty (liability) coverage is specifically designed to protect your business assets if your company is sued for something it did or even didn't do that resulted in bodily injury or property damage to someone else. For example, a customer walking through your parking lot slips and falls, injuring himself. Or, a fire in your restaurant also destroys part of a neighboring building. Or, a job candidate sues your business for hiring discrimination, even though the employee who interviewed her is no longer with your company.
Information courtesy of Regency Insurance Group, program manager for MRA insurance programs.www.regency-group.com, or call Regency at (800)686-6640.
|
